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Expert explains why the odds of a coronavirus recession have risen

Throughout his career, Jeffrey Frankel, James W. Harpel Professor of Capital Formation and Growth at Harvard Kennedy School (HKS), has assiduously tried to avoid making predictions about when the next economic recession would ...

COVID-19 'should not necessarily foreshadow an economic downturn'

Market hysteria over coronavirus may have seen hundreds of points wiped off indexes around the world this week, but Oxford University experts maintain the COVID-19 crisis should not necessarily foreshadow an economic downturn.

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Global financial crisis of 2008–2009

The global financial crisis of 2008–2009 began in July 2007 when a loss of confidence by investors in the value of securitized mortgages in the United States resulted in a liquidity crisis that prompted a substantial injection of capital into financial markets by the United States Federal Reserve, Bank of England and the European Central Bank. The TED spread, an indicator of perceived credit risk in the general economy, spiked up in July 2007, remained volatile for a year, then spiked even higher in September 2008, reaching a record 4.65% on October 10, 2008. In September 2008, the crisis deepened, as stock markets worldwide crashed and entered a period of high volatility, and a considerable number of banks, mortgage lenders and insurance companies failed in the following weeks.

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